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20130103
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KPIX (CBS) 8
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Search Results 0 to 7 of about 8
CBS
Jan 1, 2013 5:30pm PST
. >> reporter: even the number two house republican, virginia's eric cantor, said he could not fopport the bill in its current form, despite the fact that it passed the senate at 2:00 this morn morning with huge bipartisan support. >> >> the yeas are 89, the nays are eight. mi reporter: the bill is the product of the intense last- minute negotiations between senate republican leader mitch mcconnell and vice president joe biden. it contains no major cuts, partly because the speaker and vicepulled out of talks with the president last month over a akand bargain that would have cut nearly a trillion dollars in th over . we asked louisiana republican john fleming about that. this bill makes a lot of tax cuts that republicans like permanent. why not claim victory, and then work on spending cuts in the the two months? >> well, that was discussed. and you're right, it makes some things permanent, particularly permhe estate tax area, its here aret fix to the a.m.t. so there are some actual things like like about it. but as a whole, we don't like other parts of it that we think are going to be devastatin
CBS
Jan 1, 2013 5:00pm PST
: republican majority leader eric cantor told supporters he did not support the bill in its current form. do you personally oppose the bill? >> i do not support the bill. >> reporter: the senate agreement postpones harsh across-the-board spending cuts for a few months. it also makes bush-era tax cuts permanent for individuals making under $400,000 a year and families making under $450,000 a year. the white house sent vice president joe biden here to capitol hill to try to broker a deal with the house just like he did in the senate. house democrats are welcoming his help. >> vice president biden has worked very hard to come to a compromise. by definition, a compromise has elements in it that each party does not like. >> i think that we've mad gigantic progress. i hope we can have a bipartisan agreement. >> reporter: even though the country went over the "fiscal cliff" at midnight monday officially, the senate version of the bill makes all tax cut extensions retroactive to the beginning of the year. and again we just got word from a leadership aide that the house will vote on the sena
CBS
Jan 2, 2013 4:00am PST
boehner and former gop leader paul ryan voted yes but house majority leader eric cantor who led a brief last-minute charge against the deal and kevin mccarthy voted no. earlier i had a chance to visit to politico's congressional reporter. we talked about how the bill got through the house and the political ramifications of sealing the deal. hughes republicans were earlier considering a deal with more spending cuts. it was different than what the senate had passed. what ended up happening? why did republicans change their minds? >> basically they knew if they tried to make any changes that the senate had already sent over to them, it would greatly prevent them getting it done before congress was sworn in at noon. harry reid, the senate majority leerksd said it's going to be very, very tough. a lot of them were tired. the senators were already home and they were waiting for the house to just sign off on it. so any changes, especially major changes, would have, could have really, really scuttled this thing from passing and getting to president obama's desk very quickly. >> is there a
CBS
Jan 2, 2013 5:00am PST
republicans including eric cantor the number 2 ranking house member voted against the bill because it doesn't address spending. >> what we're really doing is raising taxes to give the president more money to spend. >> reporter: president obama ahead promised to work with congress to find more spending cuts in the future. but he urged them not to play politics with the nation's debt limit. >> i will not have another debate with this congress over whether or not they should pay the bills that they have already racked up. >> reporter: treasury secretary timothy geithner has warned congress that the country is just a few months away from defaulting on its loans for the first time in u.s. history. >> the consequences for the entire global economy would be catastrophic far worse than the impact of a "fiscal cliff." >> reporter: but many republican congressmen say the debt limit debate is the last chance for them to secure the deep spending cuts necessary to pay down our nation's debt. the bill now goes to president obama for his signature. back to you. >> thank you. >>> most overseas stock
CBS
Jan 2, 2013 4:30am PST
republicans including eric cantor the number 2 ranking house member voted against the bill because it didn't address spending. >> what we're doing is raising taxes to give the president more money to spend. >> reporter: president obama has promised to work with congress to find more spending cuts in the future. but he urged them not to play politics with the nation's debt limit. >> i will not have another debate with this congress other than over whether they should pay the bills they have already racked up. >> reporter: the country is just a few months away from defaulting on their loans for the first too many in history. >> it would be catastrophic, far worse than the "fiscal cliff." >> reporter: many republican congressmen say the debt limit debate is the last chance for them to secure the deep spending cuts necessary to pay down our nation's debt. tara mergener for cbs news, washington. >>> after his address, president obama returned to hawaii to finish his vacation and will sign the bill there. >>> most overseas stock markets rose on news of the u.s. "fiscal cliff" has been avert
CBS
Jan 2, 2013 6:00am PST
. >> reporter: 151 republicans, including eric cantor, the number 2 ranking house member, voted against the bill because it doesn't address spending. >> what we're really doing is raising taxes to give the president more money to spend. >> reporter: president obama has promised to work with congress to find more spending cuts in the future. but he urge them not to play politics with the debt limit. >> i will not have another debate with this congress over whether or not they should pay the bills that they have already racked up. >> reporter: treasury secretary timothy geithner has warned congress the country is just a few months away from defaulting on its loans for the first time in u.s. history. >> the consequences for the entire global economy would be catastrophic, far worse than the impact of a "fiscal cliff." >> reporter: but many republican congressmen say the debt limit debate is the last chance for them to secure the deep spending cuts necessary to pay down our nation's debt. the bill now goes to president obama for signature. back to you. >> thank you. >>> our other big story
CBS
Jan 1, 2013 6:00pm PST
. >> reporter: republican majority leader eric cantor told reporters he did not support the bill in its current form. do you personally oppose the bill? >> i do not support the bill. >> reporter: the senate agreement postpones harsh across-the-board spending cuts for a few months. it also makes bush-era tax cuts permanent for individuals making under $400,000 a year and families making under $450,000 a year. the white house sent vice president joe biden here to capitol hill to try to broker a deal with the house just like he did in the senate. house democrats are welcoming his help. >> vice president biden has worked very hard to come to a compromise. by definition, a compromise has elements in it that each party does not like. >> i think that we've mad i think that we've made gigantic progress. i hope that we can have a bipartisan agreement as we go forward. >> reporter: even though the country went over the "fiscal cliff" at midnight monday officially, the senate version of the bill makes all tax cut extensions retroactive to the beginning of the year. and right now house members are
CBS
Jan 3, 2013 7:00am PST
leader eric cantor going another way. there seems to be a split inside the party. >> and you hear it in the grassroots. you hear it all across the country. the republican party historically has been against raising taxes. but viewers should know that 98.5% of americans are going to get a permanent tax cut and that even grover norquist the leader in the anti-tax movement has said that this isn't a tax increase. you're correct, that there are schisms within the gop that did not exist before but that's what a new congress does. and if the focus turns from tax policy to spending i think that you'll find that the republicans will unite. >> yeah, but i think part of the criticism as you know frank, is that here's a republican party that agreed to tax cuts but got no spending cuts and no entitlement reform out of this president, that it wasn't a great deal after all. >> and that's -- and the american people would agree with that. norah, you're correct. and so they're going to come back at this with the debt ceiling and with the budget over the next two and three months and it's going to be up
Search Results 0 to 7 of about 8